BOJ to keep rates steady as politics muddles outlook

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TOKYO : The Bank of Japan is expected to maintain ultra-low interest rates on Thursday and signal a cautious approach to rolling back its massive monetary stimulus, as political uncertainty and jittery markets cloud the outlook.

"The domestic political turmoil is negative for economic activity and could be headwinds for the BOJ's rate-hike plans," said Naomi Muguruma, chief bond strategist at Mitsubishi UFJ Morgan Stanley Securities.

The BOJ is likely in no rush to push up borrowing costs with inflation showing few signs of spiking and Japan's economic recovery fragile.

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Article Details

Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Japan Markets Policy Rates Thursday Cent Inflation Outlook Ueda Bank Expected

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 05:03:56 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 597 words

Reading Time: 4 minutes read

Sentences: 18 lines

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Copyright Owner: © Channel News Asia

News ID: 23342877

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